Fred Alger Management LLC Trims Holdings in Honeywell International Inc. $HON

Key Points

• Fred Alger Management LLC has reduced its stake in Honeywell International Inc. by 24.5%, owning 47,910 shares after selling 15,583 during the first quarter, with a value of approximately $10.1 million.
• Honeywell's CEO, Lucian Boldea, sold 42,149 shares of the company's stock for over $9.3 million, resulting in an 80.31% reduction in his holdings.
• Mizuho and Citigroup are among analysts who have recently upgraded Honeywell's stock ratings, with price targets raised to $250.00 and $265.00, respectively.

Fred Alger Management LLC lessened its position in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 24.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,910 shares of the conglomerate's stock after selling 15,583 shares during the quarter. Fred Alger Management LLC's holdings in Honeywell International were worth $10,145,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Honeywell International by 9.1% in the fourth quarter. Brighton Jones LLC now owns 19,047 shares of the conglomerate's stock valued at $4,302,000 after purchasing an additional 1,582 shares during the period. Lionshead Wealth Management LLC acquired a new stake in shares of Honeywell International in the fourth quarter valued at about $282,000. LRI Investments LLC grew its position in shares of Honeywell International by 3.0% in the fourth quarter. LRI Investments LLC now owns 8,903 shares of the conglomerate's stock valued at $2,011,000 after purchasing an additional 259 shares during the period. Leigh Baldwin & CO. LLC acquired a new stake in shares of Honeywell International in the fourth quarter valued at about $123,294,000. Finally, Moore Capital Management LP acquired a new stake in shares of Honeywell International in the fourth quarter valued at about $16,525,000. Institutional investors and hedge funds own 75.91% of the company's stock.

Honeywell International Trading Down 1.8%

HON stock traded down $3.85 during trading on Friday, reaching $211.46. 3,168,914 shares of the stock were exchanged, compared to its average volume of 3,280,895. The company has a current ratio of 1.29, a quick ratio of 0.97 and a debt-to-equity ratio of 1.81. The business has a 50 day moving average price of $223.41 and a 200-day moving average price of $217.49. Honeywell International Inc. has a 1 year low of $179.36 and a 1 year high of $242.77. The firm has a market capitalization of $134.26 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 2.39 and a beta of 1.05.

Honeywell International (NASDAQ:HON - Get Free Report) last issued its earnings results on Thursday, July 24th. The conglomerate reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. The company had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.01 billion. During the same period in the previous year, the firm earned $2.49 earnings per share. Honeywell International's quarterly revenue was up 8.1% compared to the same quarter last year. Honeywell International has set its FY 2025 guidance at 10.450-10.650 EPS. Q3 2025 guidance at 2.500-2.600 EPS. On average, research analysts predict that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were paid a dividend of $1.13 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.52 dividend on an annualized basis and a yield of 2.1%. Honeywell International's payout ratio is 51.42%.

Insider Buying and Selling

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the transaction, the chief executive officer directly owned 10,334 shares of the company's stock, valued at $2,289,807.72. The trade was a 80.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays lifted their target price on shares of Honeywell International from $258.00 to $265.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Wells Fargo & Company dropped their target price on shares of Honeywell International from $240.00 to $230.00 and set an "equal weight" rating on the stock in a research report on Friday, July 25th. Citigroup boosted their price target on shares of Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Morgan Stanley boosted their price target on shares of Honeywell International from $225.00 to $245.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Finally, Royal Bank Of Canada lowered their price target on shares of Honeywell International from $254.00 to $253.00 and set a "sector perform" rating on the stock in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $254.00.

Honeywell International Profile

Honeywell International Inc engages in the aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses in the United States, Europe, and internationally. The company's Aerospace segment offers auxiliary power units, propulsion engines, integrated avionics, environmental control and electric power systems, engine controls, flight safety, communications, navigation hardware, data and software applications, radar and surveillance systems, aircraft lighting, advanced systems and instruments, satellite and space components, and aircraft wheels and brakes; spare parts; repair, overhaul, and maintenance services; and thermal systems, as well as wireless connectivity services.